5800 Wilshire BlvdLos Angeles, CA 90036

Property Details for 5800 Wilshire Blvd

Year built

1958

Lot size

0.14 AC

Property size (Sq ft)

11,400 SF

Zone code

LAC4

Property type

Office buildings

APN

5089-010-005

APU

5089010005

Description

This exceptional investment opportunity presents a 14,152 square foot medical office complex situated on a 26,619 square foot lot in Los Angeles' prestigious Miracle Mile, on Museum Row. The property comprises two, two-story buildings, offering 54 parking spaces. Built in 1958 and renovated in 2004, the property is zoned LA C4 and LA R3, presenting significant potential for redevelopment. Currently configured as medical offices, the property is ideal for an owner-user seeking a prime location. However, its zoning allows for a variety of uses, including boutique hotel, multi-family residential, commercial, or mixed-use development. The property's prominent location directly across from the La Brea Tar Pits and Museum, and the Los Angeles County Museum of Art (LACMA), offers unparalleled visibility and access. Its proximity to other renowned museums, Hancock Park, and the burgeoning Wilshire Boulevard corridor further enhances its desirability. The property also benefits from frontage on the Metro Purple Line subway (under construction) and easy access to Hollywood and Downtown Los Angeles. Nearby developments include a recently completed 21-story apartment tower and planned high-rise multi-family and retail projects, indicating a strong upward trend in the area. The property also presents potential for a digital billboard. The addresses included are 5800 Wilshire Blvd and 725-731 S Curson Ave, Los Angeles, CA 90036. The APN numbers are 5089-010-005

• CAP approach

  CAP return

  Valuation

  6%

  $3,303,034

  6.5%

  $3,048,954

  7%

  $2,831,172

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,167,824

  Geo Method

  $2,167,824

• Alternative Use

  Use

  Valuation

  Residential

  $3,780,704

  Hospitality

  $3,463,104

  Educational

  $2,881,262

  Medical

  $2,980,353

  Retail

  $4,481,964

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0622

Longitude

-118.355

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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